Gold Fields Expects Lower 2017 Earnings
By Maryam Cockar
Gold Fields Ltd. (GFI.JO) said Thursday that it expects headline earnings for 2017 to drop by as much as 12% on year, citing an increase in amortization.
The South African miner forecasts 2017 headline earnings per share at between $0.23 and $0.26, compared with the $0.26 a share reported in 2016, it said.
Basic loss per share for 2017 is expected to be between $0.22 and $0.25, compared with earnings of $0.20 a share a year earlier.
Gold Fields said that normalized earnings are expected to be 21% to 33% lower than the $0.24 a share reported in 2016, giving a range of between $0.16 and $0.19 a share for 2017.
At 1251 GMT, shares were down 2.58 South African rand ($0.22) at 47.19 rand.
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(END) Dow Jones Newswires
February 08, 2018 08:24 ET (13:24 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.